June 4th, 2015

The Impunity Trap

Economics & Politics

Ours is a world of impunity. Allegations of corruption swarmed around FIFA for decades, culminating in indictments of current and former officials last week. Yet FIFA President Sepp Blatter was re-elected four times, including after the indictments were filed. Yes, Blatter has finally resigned, but only after he and dozens of Federation members once again showed their scorn for honesty and the law.

We see this kind of behavior all over the world. Consider Wall Street. In 2013 and 2014, JPMorgan Chase paid more than $20 billion in fines for financial malfeasance; yet the CEO took home $20 million in compensation in both 2014 and 2015. Or consider corruption scandals in Brazil, Spain, and many other countries, where governments remain in power even after high-level corruption within the ruling party has been exposed.

Read the full post at Project Syndicate or download the PDF here.

 

Related Articles:

Comments

Previous post:

Next post: